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Tax changes loom for state ahead of budget address, expert says

Tax changes loom for state ahead of budget address, expert says

As Gov. Bruce Rauner readies his first budget address, expect him to propose changes that could have major consequences for certain demographics, a University of Illinois expert on taxation issues says. According to law professor Richard L. Kaplan, three issues – the taxation of retirement income, an expansion of the sales tax base and an increase in the cost of health insurance benefits for state employees – loom over the Illinois budgetary horizon as potential quick fixes for the revenue-strapped state.

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Tuesday, February 17, 2015